BlockFills (BFLS) Halts Withdrawals Amid Crypto Market Crash

BlockFills (BFLS) has halted client withdrawals and suspended new deposits, effective last week, amid heightened crypto volatility, according to Mining Mag and the Financial Times. The platform, based in Chicago and partially backed by Susquehanna Investment Group, reported $60 billion in trading volume last year. "To further the protection of clients and the firm, BlockFills temporarily suspended client deposits and withdrawals," a spokesperson said. "Clients may continue trading for opening and closing positions in spot and derivatives trading under limited circumstances," the statement added. The move follows a rapid decline in crypto prices, with Bitcoin (BTC) hitting as low as $60,000 and rebounding to about $67,000, still roughly 50% off its October 2023 high. The action echoes the 2022 crypto winter, when multiple exchanges suspended withdrawals and many collapsed.